Investors can access a stake in new apartments in the well located Sydney suburb of Epping for as little as $25,000 via the new “AusFunds Fractional Property Investment Platform”.
The investment amount covers all associated costs such as fund setup, stamp duty, legals, accounting, ongoing property management and audits etc.
The group has secured a package deal of 12 new apartments in a development at 17-25 Epping Road 450 metres from Epping Station, which is a 24-minute express train journey to the CBD.
The package of apartments, which have been secured at a wholesale price, comprises 3 x 1-br apartments, 7 x 2-br apartments and 2 x 3-br apartments.
The apartments are well sized and all but one have their own car space included.
The one-bedders range in size from 63sqm to 82sqm inclusive of balcony plus car space and storage. The 2-bedders range from 82sqm to 97sqm metres plus car space and storage and the 3-bedders are 109sqm plus car space and storage.
All apartments have premium finishes and appliances including stone top kitchens, gas cook tops and Miele appliance and designer bathrooms and all have reverse cycle air – conditioning.
The development comprises 90-apartment in total of which more than two thirds have been sold to owner occupiers and investors.
The apartments are near Macquarie University (2.6km) in the adjacent suburb of North Ryde and the Macquarie Shopping Mall which is soon to be upgraded. They are also located on the edge of one of Sydney’s major employment hubs where 3M, Canon, Cochlear, Norvatis, Honeywell, Hyundai, Microsoft, Optus, Oracle and Philips have their Australian headquarters.
AusFunds CEO Edgar Hung said fractional property investing allows investors to enter a market “without having to place all your eggs in one basket.”
“The key advantages include the ability to simply and conveniently gain exposure to residential property in Australia’s premier city at a discount and the excellent location of the underlying asset.”
The investment is styled as a 5-year hold. Product Disclosure Statement (PDS) can be downloaded from the website and the offer will close on 29 March 2019.